Accuray appoints new COO with extensive industry experience

Accuray Incorporated (NASDAQ:ARAY), a company specializing in surgical and medical instruments with a market capitalization of $250 million, announced the appointment of Leonel Peralta as its new Senior Vice President and Chief Operations Officer, effective February 3, 2025. This strategic move was disclosed in a recent 8-K filing with the Securities and Exchange Commission. The company’s stock has shown remarkable momentum, gaining over 79% in the past six months, according to InvestingPro data, which also indicates the stock is currently trading near overbought levels.

Peralta, 54, brings a wealth of experience from his previous role as Vice President, Head of Global Operations for Siemens (ETR:SIEGn) Healthineers’ ultrasound division, a position he held from September 2021 to January 2025. His extensive background also includes leadership roles at Medtronic (NYSE:MDT) plc, Hill-Rom (NYSE:HRC), KCI Medical (TASE:PMCN), and GE Healthcare. Peralta’s educational qualifications include an M.B.A. from the University of Chicago, an M.S. in Mechanical Engineering from the University of Miami, and a B.S. in Mechanical Engineering from Florida International University. He joins Accuray at a crucial time, as the company generated $453 million in revenue over the last twelve months, with a modest growth rate of 1.3%.

The terms of Peralta’s employment with Accuray include an annual base salary of $450,000, a sign-on bonus of $80,000, eligibility for an annual cash incentive bonus, and a performance bonus contingent on achieving specific targets. Additionally, Accuray will grant Peralta restricted stock units valued at $750,000, which will vest over a four-year period, subject to continued service.

Accuray’s filing also outlines severance benefits for Peralta should his employment be terminated without cause or if he resigns for good reason, including a lump sum payment equivalent to twelve months of his base salary and other benefits. In the event of a change in control at the company, Peralta would be entitled to enhanced severance benefits.

The information about Peralta’s appointment and compensation agreement is based on Accuray’s SEC filing and provides investors with insight into the company’s executive leadership changes.

This executive appointment comes as Accuray continues to innovate in the medical technology field, and Peralta’s experience is expected to contribute to the company’s operational strategies moving forward. InvestingPro analysis reveals that while the company faces profitability challenges, analysts have set price targets ranging from $5.50 to $7.00 per share, suggesting potential upside. For deeper insights into Accuray’s financial health, operational metrics, and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, along with 11 additional ProTips for this stock.

In other recent news, Accuray Incorporated reported mixed results for the first quarter of fiscal 2025. Despite a 2% year-over-year decline in overall revenue to $102 million, the company saw a 30% revenue growth in China and a 5% increase in service revenue to $53 million. The company’s full-year revenue and adjusted EBITDA guidance has been revised upwards, reflecting positive trends and strategic customer wins.

In addition, Accuray has announced leadership changes with the appointment of Leonel Peralta as the new Senior Vice President and Chief Operations Officer, following the departure of Michael Hoge. Peralta, with his extensive experience in supply chain management and manufacturing optimization, is expected to enhance the company’s operational capabilities.

These are recent developments that highlight Accuray’s strategic moves to strengthen its market position and capitalize on growth opportunities, particularly in the Chinese market. The company’s operational changes and financial performance are based on a combination of press release statements and an earnings call report.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.